ram--you're probably more astute on some of nuances of this "deal" than i will ever be. what i found most interesting is that a university must, apparently, have a bill passed in the legislature and signed by the governer to sell an asset (such as a piece of property willed by an alumnus).  now, if the legislature is out of session when a piece of property might be sold, tough luck. hope the deal sticks until the next legislative session. 

It was always suspected that the previous administration was all about money for select individuals. If the IHL were big on integrity it would bring in an outside auditing firm to review the past five years. That will be right after pigs fly.

...Preplanning for Albertson's Building renovation for the School of Nursing in the amount of $500,000
and request approval by the Bureau of Buildings to submit RFPs for professional services....  (IHL minutes, 4/17/03)

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Board delays action on projects


... The buildings and facilities committee took no action on USM's $11 million Trent Lott National Center for Excellence in Economic Development and Entrepreneurship.

 University officials were going to ask the board to OK transferring $3.5 million earmarked for renovation of the former Albertsons grocery store for the School of Nursing to the center, USM has been trying to raise the money to build the center from private sources.

 "It looks like we might have somebody who's willing to help us," USM president Shelby Thames said. "We are going to do this. We're just going to do it a different way."...  (HA, 3/18/04)

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 School uncertain on move

A lack of funds for a $10 million renovation is forcing University of Southern Mississippi officials to reconsider housing a nursing program in the former Albertsons grocery store at Cloverleaf Center.

 USM bought the building for $1.2 million in 2002, but Joan Exline, interim dean of the College of Health, said building a new facility might be a better option.

 "We are looking at possibly leasing the building out and using the income to fund construction of a new nursing building," she said.

 Exline said private funding is needed along with $3.5 million in state money. A new building will cost an estimated $7 million.

 USM spokeswoman Lisa Mader said President Shelby Thames will not ask the state College Board to transfer $3.5 million earmarked for the nursing school to the Trent Lott National Center for Excellence in Economic Development and Entre-preneurship. Thames withdrew the request last month and said the transfer would not have delayed work on the nursing facility.... (HA, 4/6/04)

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 Lawmakers may give USM $3.5M to start Lott center
Thames talks with students in meeting


... Thames explained the delay in starting a new facility for the School of Nursing. The university bought the former Albertsons grocery site at Cloverleaf Center for $1.2 million in October 2002. Plans were to renovate it but cost estimates have been as high as $10 million, Thames said.

 "We think we may have an opportunity to do something with the Albertsons building that will generate the revenue to buy bonds to finance construction of a nursing building," he said.

 Thames said he couldn't elaborate because negotiations are on-going but defended the university's purchase of the off-campus property.... (HA, 4/14/04)

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Paying for the Lott Center

Funding the remaining $3.3 million for the $15.8 million Trent Lott Center can come from three different sources:

Internally:USM has said it can draw on $3.3 million for unanticipated needs by shifting money internally. That money would be replenished with federal money and private funds.

Externally: Private donors have contributed to the project thus far and more are expected once construction begins.

From the state:About $3.5 million for the project is part of a $109.5 million bond bill for repairs and renovations was passed by the House late Thursday in the current special legislative session. ...

...The $3.3 million would be reimbursed to Southern Miss through future federal funds and private donations, Mader said earlier this week.

She gave more details Thursday how the university uses funds for unanticipated needs such as this one.

She said there is no one fund for unanticipated needs. However, the university can draw money from a variety of its internal resources to pay for projects, Mader said, citing Southern Miss' purchase in 2002 of the former Albertsons grocery store for $1.2 million as an example.

"With shifts in priorities then we can shift those monies to meet the No. 1 priority," Mader said.... (HA, 4/19/04)

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Fund raising slows for Lott center, Chain says
Businessman holds Thames responsible

The Hattiesburg businessman who helped organize the Trent Lott National Center for Excellence in Economic Development and Entrepreneurship says University of Southern Mississippi President Shelby Thames has stalled the project....

...Although he has been involved with the project since its inception, Chain is baffled by the delays.

 "There's nothing about it that makes sense," he said. "I mean, we had all the people in place to raise the money. We just needed the university administration to cooperate with us as we started.

 "Because the idea didn't originate out there (at USM), maybe that's the problem. Maybe it wasn't Dr. Thames' idea. It was not his idea. It was Sen. Lott's idea, and never in his wildest dreams did he ask to have this building named for him."

 Attempts to reach Thames for comment were unsuccessful Monday and Tuesday. University spokeswoman Lisa Mader referred all calls to Dvorak.

 Thames said in January he would ask the College Board for approval to bid the project without all the funds in hand. He later said he misspoke and did not make the request.

 At the College Board's March meeting, Thames withdrew a request to transfer $3.5 million to the Lott Center that had been earmarked for renovation of the former Albertsons grocery building at Cloverleaf Center. The former grocery store is supposed to house the university's nursing program.

 "It looks like we might have somebody who's willing to help us," he said then. "We're just going to do it a different way."

 During an April 13 meeting with students, Thames said the $3.5 million was included in a general bond bill pending in the Legislature. The bill died in the final days of the session.

 Dvorak said she does not know if the university will revisit using the Albertsons project money for the Lott Center.... (HA, 5/19/04)

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USM leasing building to Hudson's

Hudson's has leased the former Albertsons grocery building at Cloverleaf Center from the University of Southern Mississippi for at least two months.

The salvage company will pay Southern Miss $10,000 a month to use the building as a temporary furniture store on the west side of Cloverleaf Center.... (HA, 8/26/04)

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USM facility's future uncertain
School bought Albertsons for nursing program

University of Southern Mississippi College of Health Dean Peter Fos said he's unsure of the university's plans to renovate the former Albertsons grocery store for the School of Nursing.

"I don't know if the Albertons building is the answer," Fos said. "I'm not concerned from that standpoint. We need a new facility. My first choice would be a facility on campus."

Southern Miss bought the 62,322-square-foot former grocery store from Hattiesburg businessman Ray Sims for $1.2 million in 2002. At the time, officials announced plans to renovate it for $1 million for use as a nursing school....

...While Southern Miss spokeswoman Lisa Mader said the building is still slated to be used for the nursing program, renovations are contingent on funding.

"We, at this time, do not have funding needed to renovate that building," Mader said.... (HA, 3/15/05)

On a related topic, did Noetic Technologies ever make any money for the university?